My understanding is that the word for Baptism in the Greek would refer to Immersion, and this is why Baptists would tend to see it as believers baptism.Standard Baptist covenantal/Jeremiah 31 arguments aside-
The way that scripture speaks of baptism as a "putting on [of] Christ," Gal 3:27, and that as many who are baptized are "baptized into his death," Romans 6:3. With full-respect to my paedobaptist brethren, whom I love, I just can't apply these statements to infants who lack a profession of faith, and neither can I see such a strong continuity between circumcision and baptism of the kind which would say, with Calvin, that the signs are essentially the same if only different in circumstance. That would require a back reading of the way the New Testament speaks of baptism into circumcision, which would be to say that circumcision represented the "putting on [of] Christ" and that all who were circumcised were "circumcised into his death." It just doesn't make sense to me.
Reading à Brakel state that unregenerate infants who receive baptism really are engrafted into and participate in the Covenant of Grace is just far from how I, as a Baptist, understand the Covenant of Grace in its New Testament administration.
(edit: Here I might be equivocating in my last sentence, as I might be leaning towards the 1689 Federalist view that states that the New Covenant and only the New Covenant is the Covenant of Grace; I'm still working through my views).
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